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Mitek Systems, Inc. Message Board

  • patientmd patientmd Jan 30, 2014 9:21 AM Flag

    Why can't MITK hold.................?????

    Why can't MITK hold onto gains when there is good news? Any uptick in stock price generally followed by drift downward shortly after. A result of profit taking, shorts or MMs?
    I fear that even if the earnings are better than expected any gain will not be held and of course if not as expected whoa!!!
    What is it going to take to breakthrough the 7 barrier, move upward and hold ( besides the obvious of progressive increased earnings); other stocks do it on future prospects.

    Sentiment: Strong Buy

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    • Agree- very upsetting to see the trading in MITK. However, I remember SILC at $3.00................pure pain!!.

    • Seems Mitk has become a trading stock. Any time it goes up they take gains on swing trades. It's also being shorted, covered re-shorted on whatever the market perceives as short term pivot points.

      So all these moves are exaggerated with trading noise and there seems to be no straight line in any direction.

      But the 50 dma and 200 dma are holding and sloping up. It's overall bullish right now as long as those conditions remain. That's basic, simple TA.

      From a fundamental perspective, as long as there remains a trend toward quarterly sequential gains in revs. this stock can go a lot higher, imo.

      A failure to sequentially grow in any one Q might not be a disaster if the market perceives, based on CC and so forth that sequential growth is the rule NOT the exception because that's what assures the main goal of acceleration in YOY growth. Anyone long expects that to happen. You could say the products and business model are still new and just getting to market and some slack can be cut for a while but we are getting to the point where it's showtime as far as growth goes.

      The increase in number of shares is a tide to go against but longs expect a strong swimmer will emerge with nice gains in revenues.

      The products of are gold medalist stuff- no doubt about that. IMO.They have a recurring revenue stream element to them. That's a beautiful thing to think about but, as I say, it's showtime.

    • Look at the short volume. Was going down until that run to $7, now it shows it is going up again. With low float and volume, it can and will be kept down until all the big boys are aboard. Then it will be allowed to take off. This will be back over $10 by EOY and that is an 80% increase from here. Next year it will be into the 100's of % higher.....Will not take much to get positive earnings.

      Sentiment: Strong Buy

    • It will take................patience, my friend.....patience.

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